Additionally, they emphasized the importance of conducting transactions in line with market mechanisms, aiming to achieve the highest levels of transparency and clarity.
The Minister of Supply and Internal Trade, Sherif Farouk, receives the Chairman of the Financial Regulatory Authority (FRA), Mohamed Farid, to discuss strategies for boosting the effectiveness of the commodity exchange and strengthening its contribution to the economy.
The focus will be on leveraging the forces of supply and demand to activate the commodity exchange. This approach will empower traders to manage the risks associated with price fluctuations through hedging techniques.
Additionally, they emphasized the importance of conducting transactions in line with market mechanisms, aiming to achieve the highest levels of transparency and clarity.
The discussions also highlighted the need to establish robust foundations and standards that facilitate the trading of commodity derivatives.
The two parties have discussed the possibility of maximizing the utilization of the accumulated expertise of the FRA to enhance the efficiency and competitiveness of the commodity stock exchange.
They also deliberated on how to activate the role of the commodity stock exchange to increase competitiveness and achieve fair competition in the markets.
Moreover, they emphasized the importance of transparent pricing of commodities for all market participants, aiming to reduce trading complexities through the exchange's electronic platform.
Farid expressed his keenness to activate all appropriate forms of cooperation with the Ministry of Supply within the framework of the Authority's efforts to integrate with various state institutions to support the achievement of economic and social development plans.
